Parliament starts budget discussions

Posted on: May 31, 2016 | views: 291

Discussions on the budget for fiscal year 2073/74 BS have begun in the Legislature-Parliament from today.

Speaking at the meeting, former Finance Minister Dr Ram Sharan Mahat said that the budget was issued violating fiscal discipline. He added that internal revenue cannot bear the development expenditure.

Mahat also said that economic crisis may occur as the development expenditure in the budget is less than the general expenditure. It might trigger a price hike, he argued.   
Adding the social security allowance is positive but it needs effective mechanism for its implementation, Mahat said.  

On the other hand, former Finance Minister Bharat Mohan Adhikari said that the budget has allocated adequate funds for completing the post-quake reconstruction by three years and increasing the budget in the energy sector is positive side of the budget.

He added that linking road networks in each village, doubling the social security allowance and budget for local bodies were guided by the ' welfare state' concept.  
He also suggested forming a monitoring committee under chairmanship of Prime Minister to implement the budget effectively.

Likewise, Dhani Ram Poudel of the UCPN (Maoist) believed that the budget, the first of its kind after the promulgation of the constitution, will serve as a milestone in the implementation of the constitution.

He also noted that the budget fails to increase the size of budgetary allocation for the April 25 earthquake survivors, while suggesting strengthening bureaucracy to enforce it.  
Similarly, Dilnath Giri of the Rastriya Prajatantra Party Nepal criticised the budget for failing to release the budget to make barren land arable.

The next meeting has been scheduled for 11:00 am tomorrow.